To assit, we've compiled a list of Frequently Asked Questions (FAQ) below.





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Joining - Bonds & Payments - Our Fees - Demo - Software - Becoming Funded - General

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Joining

+ What is a Proprietary Trading Firm?


A Proprietary Trading Firm (“Prop Firm”) is a company that enables you to trade the company's money and use its professional infrastructure along with giving you access to vastly cheaper trade fees to give you a major competitive advantage over using a Broker.

We do no extend leverage or margin, all traders are trading the firms capital. To offset any losses traders place a Performance Bond with us. There is no relationship between the Performance Bond and the amount of capital we can extend.

There is also no conflicts of Interest with a Prop Firm, the more money you make the more money the Prop Firm will make.


+ Why is a Prop Firm Better than a Broker?


A broker’s main source of income is from commissions, they want you trading and don't care if you lose or make money. They normally have very high commission costs, which can kill a small account very quickly.

A lot of Brokers will offer CFD or Principle Execution; this is where the broker takes the other side of your trades. Therefore it's in the Brokers interest for you to fail.

Your interest and theirs are not aligned there is a clear conflict of interest.

A Prop firm will have your interest aligned with theirs, so when you make money they make money. You will be given access to professional tools and services to enable you to succeed, like ECN rebates, Dark Pools, Mentoring, Large Funding & Low Fees.

+ What is a Performance bond?

A Performance Bond is there to offset any losses or data/software costs when trading the companies capital. We do not offer or extend leverage nor margin. You are trading our capital and can have more extended based on your performance.

The Performance Bond is only refundable if the traders account is NET positive at the time of closing the account.

+ What do I need to join?

You need a ID and Proof of Address dated within the last 3 months.

+ What are Auto Daily Risk Limits?

When you join, we ask you to set a Daily Risk Limit, this is a $ amount loss that if you hit, we will cut your buying power till the next trading day.

This will try to prevent you from either overtrading if you’re new or to try to prevent you from blowing up an account if you have a bad day.

+ Do I need any Qualifications or previous trading experience?

We require no qualifications and no previous trading experience.


Bonds & Payments

+ How much do I need to open an account?

If you have 6 months worth of verified trading history showing a profit, therefore, proving you have trading savvy then we will open an account without a bond.


If you don't have a verified trading history you must provide a set off against costs associated with servicing your account.


+ How much Buying Power will I get?

Based on your performance we can extend near on unlimited Buying Power.

There is no relationship between the Performance Bond and the buying power we extend to you.

If you require more please just get in touch and ask.

+ If I lose or make money does my buying power change?

No, your buying power will always be fixed at the amount we agreed. This means there will be no reduction in buying power if you had a few bad days.

+ How long does it take to activate my account?

We can normally give you access to your account within 24 hours of payment clearing and your identity is verified.

+ How much do I get paid on making profit?

If you are in a Standard Account it will be 80% payout. If we are funding you then it will be based on our agreement. All payments are net of fees.

+ How long does it take me to withdraw?

We pay our trader at the end of the month following the request is made. As an example, if you make 10k profit net in January, we will pay you to your bank account at the end of February. If you are trading with a Standard Account, withdrawals are made via request, funded accounts are paid automatically.


Our Fees

+ Cost of Placing a Trade?


The cost of a trade is $0.00177 per share with a $0.99 per trade minimum on our Standard Account.

Major discounts will be only available for Funded & Large Volume Groups/ Traders.

For more information on Our Fees - Click Here

+ How much is software?

We offer new traders 4 months of free software to give them as much help as possible. Full software costs are outlined here - Click Here

+ How much is data fees?

Data fees are outlined here - Click Here

+ When am I charged?

Every time you buy or sell you are charged. As for software and data fees you are charged at the start of every calendar month irrespective of the date you signed up.

+ What are ECN Rebates?

If you add liquidity you get paid by exchanges to do this, if you take liquidity you pay for this privilege. Different Routes have different payments or costs.

As an example, if you want to buy and sit on "Bid" waiting for a buyer and get filled you are adding liquidity and will be paid for doing so. Alternatively, if you want to buy and you take the "Ask" you are getting filled straight away but you will be taking liquidity and will pay for this.


ECN rebates are automatically applied at the end of each trading day.


Demo

+ Can I test drive the Software?

Yes, to start your demo of Sterling Trader Pro please sign up using this form - Click Here

+ How long does the Demo last?

The demo last 3 days.

+ Can I renew my Demo Account?

After 7 days you can not renew the demo, this is due to Licence Agreements with the Software & Exchange Feeds.

+ Do you recommend using Demo to learn to Trade?

No, Trading using a Demo Account removes all emotions from trading which is a large part of learning to trade. We recommend you only use the demo to become familiar with the software.

Software

+ What Trading Platform Software do you offer?

We use Sterling Trader Pro, its the one of the worlds most popular Professional Trading Platform.

+ Does the Software have Level 2?

Yes, Sterling Trader Pro has Level 2 but you need to ensure you have the right data feeds to see it.

For more Information - Click Here

+ Does the Software come with a Scanner?

Yes, Sterling Trader Pro comes with a Scanner and includes configurable top 10 High Low Lists. We also recommend a secondary scanner which is not part of Sterling Trader Pro, if required we can supply you with a link that gives you access to a monthly discount.

+ Am I able to use Stops?

Yes, you can place stops using the software. We recommend you fully understand the types of Stops and how these are executed before using them.

+ Can I change my Daily Risk Limit in the Software?

No, your maximum Loss per day is set with us & you will need to get in touch via your Risk Manager to change it.

+ What is the least number of feeds needed to use the Software to Trade?

You will require Level 1 as a minimum for the exchange where the instrument you are planning on trading is situated.

+ What Routes & Dark Pools do you have?

Click HERE to download our full list including descriptions.

Becoming Funded

+ How do I become Funded?

Provide a verified trading track record of 6 months or trade with us providing an offset to cover the servicing of your account.

No Silly Targets or Silly Criteria to get funded.

+ What is the Benefit of being funded?


We can scale you up with almost Unlimited Funding to make sure you can fully exploit the opportunity. We will then massively reduce your trading commission and support you to grow to your full potential.

+ What are the Payouts for Funded Accounts?

We agree on a % payout structure that is based on your profitability. The payout structure is geared so it's in your interest to make more money but trading profitably.

+ I am already profitable, Can I have a Funded Account?

Sure, but we need to see verified proof of your trading history for 6 months.

We are very flexible and based on your trading history can give you very favourable terms.


General

+ What ID & Paperwork do I need to open an account?

We require either a driving licence or passport that are valid and in date. We also require proof of address dated within the last 3 months, this can be a Utility bill, phone bill or bank statement.

+ Can a group of us trade using the same account?

No unfortunately not, each account has to be linked to an individual trader.

However, we can offer each of your group or firm an account and provide a group discount.

+ Is there any restrictions?

Yes, At this time, we do not accept Traders domiciled in the United States of America. We can, however, accept US Citizens who are domiciled outside the USA.

+ Where are you based?

We are based in the Cayman Islands.

+ Do I Bear any Risks?

Yes, you are fully responsible for your losses and need to take Risk management very seriously to avoid losses.

+ Do you allow Over Night Positions?

Yes we can.

 




Have More Questions that you can't see above?


Best to get in touch via our Contact form - Click Here